Bail Out Failed (homes, buy, prices) - Long Island - New York (NY) - City-Data Forum

OhBeeHave · 09-29-2008, 01:02 PM

Now what?

TomMoser · 09-29-2008, 01:09 PM

Maybe if another bank or two fails in the next couple of days they will see the necessity.

LocalX · 09-29-2008, 01:27 PM

Buy bonds.
The market will be down 28% by Thursday if the bill is not approved.

nancy thereader · 09-29-2008, 01:30 PM

Thank God, I did put most everything in 7 % bonds last week.

TomMoser · 09-29-2008, 01:32 PM

Quote:

Originally Posted by nancy thereader

Thank God, I did put most everything in 7 % bonds last week.

Issued by Washington Mutual? Just kidding....

nancy thereader · 09-29-2008, 01:41 PM

No. my annuity guy. And, he told me not to do this. It'll come right back
Yeah, just like the internet fiasco that I still haven't recovered from.

LocalX · 09-29-2008, 02:17 PM

Quote:

Originally Posted by tommoser

issued by washington mutual? Just kidding....

Now, thats funny!!!

Some energy/oil stocks are a good buy right now.

ClarkStreetKid · 09-29-2008, 05:32 PM

I'm still not sure if the bail out is a good thing. Let's see what the markets do without waiting for a check from the taxpayers.

nancy thereader · 09-29-2008, 05:47 PM

I am not sure how I feel. I really do not understand the whole fiscal thing anyway.

LI2South · 09-29-2008, 10:44 PM

I am not sure how I feel about any of this either. One way is not better than another...
I did some reading on Newsday.com (I know most of you dislike Newsday) but there are a lot of bloggers on there. Beside some really sad and sickening blogs - I read blogs forecasting homes on Long Island will once again be affordable (talking mid to higher 200's)... the 700 drop on Wall Street today... my hubby and I found ourselves so upset we couldn't eat dinner... what do we do? TRY to sell now? We bought in the beginning of 2004... We could NEVER afford to take such a huge hit if home prices drop that much! We are not in danger of losing our home or anything, but who could get out from under a drop like that?
All of this is really scary to me...
I do have an opinion that I am sure I will get grief for... but here goes anyway...
If I lend "Sue" $10K and she does not pay me back... who is going to bail ME out? NO ONE.... Anyone going to give me a 35K silver chute? NO!
I know what this is doing to our economy but I am not sure I agree with the bail out. It is saving the greedy ones... It isn't helping any of the "little people" and that makes me sad. Without us "little people" what would there be?